The 90% Public Debt Threshold: The Rise & Fall of a Stylised Fact
Abstract
This paper puts the original Reinhart-Rogoff dataset, made public by Herndon et al. (2013), to a formal econometric test to pin down debt threshold endogenously. We show that the nonlinear relation from debt to growth is not very robust. Taken with a pinch of salt, our results suggest, however, that there may be a tipping point at around 20% of GDP, beyond which central government debt has a negative influence on growth. Further (and greater)...
Paper Details
Title
The 90% Public Debt Threshold: The Rise & Fall of a Stylised Fact
Published Date
Jan 1, 2013
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